Fuel Costs Are Quietly Eating Your Margin: What Record Gas Prices Mean for Your Books
Small-business gas spend jumped nearly 31% in 2026. Track fuel per mile, split the 72.5¢/76¢ IRS mileage rate, and book fuel surcharges as revenue.
#tax-deductions
Tax Deductions
Maximize tax deductions and reduce your tax liability legally
Vintage Clothing Reseller Bookkeeping: Why Your True COGS Is More Than the Thrift-Store Price
A thrift flip's true cost has five layers: price, prep, mileage, fees, shipping. Track them all, deduct only sold inventory, and reconcile 1099-Ks for the IRS.
Donating Your Car Before Year-End? How Form 1098-C, the $500 Threshold, and Gross-Proceeds Rules Decide Your Deduction
The IRS usually limits car-donation deductions to the charity's sale price — Form 1098-C, the $500 threshold, and three FMV exceptions decide yours.
2026 IRS Mileage Rate Midyear Change: How to Split Your Deduction
The IRS raised the 2026 business mileage rate from 72.5 to 76 cents for miles driven from July 1 — date every log entry or you cannot prove the higher rate.
Selling a Rental? How Your Suspended Passive Losses Finally Get Freed
Under IRS Section 469(g), a fully taxable sale of your entire rental to an unrelated buyer frees every suspended passive loss against wages and other income.
Ordinary and Necessary: The Two-Word Test Behind Every Business Tax Deduction
An IRS business expense must be ordinary (common in your industry) and necessary (helpful to it) under Section 162 — plus the records to prove it.
Replaced the Roof? Make the Partial Disposition Election So You Stop Depreciating Two Roofs at Once
Replaced a roof or HVAC? The IRS partial disposition election deducts the old component's remaining basis on Form 4797 now, not over decades.
Session Musician Taxes and Bookkeeping: Union Scale, Buyouts, 1099s, Royalties, and Deductions
Gig pay lands on 1099-NEC, royalties on 1099-MISC, and the IRS taxes it all. US guide to scale vs. buyouts, fund payouts, and session deductions.
Bringing Your Spouse on a Business Trip? When Their Travel Is Deductible (and When It Lands on Your W-2)
Your spouse's travel is deductible only if they are your employee on a bona fide business trip — otherwise the IRS treats employer-paid costs as W-2 wages.
Commuting vs. Business Mileage: When Your Drive Is Deductible and When It Never Is
Home-to-work driving is never deductible, but a qualifying home office or temporary site flips the same miles to IRS business mileage at 76 cents each.
Starting Your HDHP in December? How the HSA Last-Month Rule Lets You Contribute the Full Year
Covered by an HDHP on Dec. 1? The IRS last-month rule allows a full-year HSA contribution — but fail the 13-month testing period and owe tax plus 10%.
Tearing Down a Building? Why Section 280B Adds Demolition Costs to Your Land Basis Instead of Giving You a Deduction
Section 280B puts demolition costs and a razed building's leftover basis into land, not a deduction. The 75% renovation safe harbor can preserve write-offs.